President Donald Trump may have to settle for a far smaller payout than he originally demanded in his high-profile defamation case against CBS and its parent company, Paramount Global. A mediator has proposed a $20 million settlement, just a fraction of the $20 billion Trump sought when he filed the lawsuit last October.
According to The Wall Street Journal, the settlement proposal includes $17 million earmarked for Trump’s presidential library—$2 million more than what ABC agreed to pay in a separate December settlement with Trump. An additional $3 million would cover legal fees and fund public service announcements focused on combating antisemitism.
The legal battle began after Trump sued Paramount, alleging the company distorted a “60 Minutes” interview with Vice President Kamala Harris. He claimed CBS manipulated Harris’s comments on Israel to favor the Biden campaign, amounting to what he called “election interference.”
CBS denied the accusation, asserting the edit was made for timing reasons and did not misrepresent the Vice President’s words. Still, Paramount entered settlement negotiations in an effort to resolve the dispute. Paramount declined to comment on the settlement discussions. Trump’s attorney, Ed Paltzik, issued a statement saying the former president is “committed to holding those who traffic in fake news, hoaxes, and lies to account.”
“CBS and Paramount targeted the President in an attempt to harm his reputation while committing the worst kind of election interference and fraud in the closing days of the most important presidential election in history,” Paltzik said. “President Trump will pursue this vital matter to its just and rightful conclusion.”
It remains unclear whether the settlement proposal includes an apology, which Trump has repeatedly demanded. Paramount has consistently resisted issuing any apology, a stance that reportedly contributed to major internal fallout, including the resignation of “60 Minutes” executive producer Bill Owens and the dismissal of CBS News and Stations President Wendy McMahon.
Trump’s lawsuit originally sought $10 billion in damages, later increasing that figure to $20 billion. He claimed the selective airing of Harris’s comments on different programs—Face the Nation and 60 Minutes—was politically motivated and designed to damage his re-election bid.
The litigation has become a significant obstacle in Paramount’s planned merger with Skydance Media, the media conglomerate headed by billionaire David Ellison. Executives at Paramount fear that a high-dollar settlement could be viewed as an attempt to curry favor with a federal official, potentially opening the company up to bribery accusations.
As a precaution, Paramount has enlisted law firm Gibson Dunn to determine whether a settlement exceeding $15 million could trigger such liability. Federal Communications Commissioner Brendan Carr, a Trump ally, has said he will consider an official complaint regarding the interview as part of his review of the merger.